28
Sep
16:43
Nikola, Tumim Stone sign second stock equity line purchase agreement
Nikola Corp will sell up to $300 million in new shares to New York-based Tumim Stone Capital to keep its electric truck and hydrogen fuelling stations on track, Kallanish reports. It is the second $300m deal between the companies.
The equity line purchase agreement effectively operates like a line of credit that Nikola can draw upon as needed and provides Nikola with the right to issue and sell to Tumim up to $600m of Nikola’s common stock. Tumim will purcha…
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